Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2019USD ($)shares | |
Cover [Abstract] | |
Entity Registrant Name | Xinda International Corp. |
Entity Central Index Key | 0001624985 |
Document Type | 10-K |
Document Period End Date | Dec. 31, 2019 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Is Entity a Well-known Seasoned Issuer? | No |
Is Entity a Voluntary Filer? | No |
Is Entity's Reporting Status Current? | No |
Is Entity Emerging Growth Company? | true |
Elected Not To Use the Extended Transition Period | false |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | true |
Entity Public Float | $ | $ 2,596 |
Entity Common Stock, Shares Outstanding | shares | 5,857,000 |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2019 |
Entity Shell Company | false |
Entity file number | 333-200344 |
Entity Interactive Data Current | No |
Entity Incorporation State Code | NV |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets | ||
Cash and cash equivalents | $ 1,017 | $ 1,017 |
Total current assets | 1,017 | 1,017 |
Total assets | 1,017 | 1,017 |
Current liabilities | ||
Accrued expenses | 67,108 | 65,308 |
Related party officer demand loan | 41,667 | 41,667 |
Total current liabilities | 108,775 | 106,975 |
Commitments and Contingencies - Note 6 | ||
Shareholders' Equity (Deficit) | ||
Common stock, $0.0001 par value; 50,000,000 shares authorized, 5,857,500 and 5,857,500 issued and outstanding at 12/31/2019 and 12/31/2018, respectively due to a 14 to 1 forward split | 2,596 | 2,596 |
Additional paid in capital | 25,483 | 25,483 |
Accumulated deficit | (135,837) | (134,037) |
Total Equity | (107,758) | (105,958) |
Total Liabilities and Equity (Deficit) | $ 1,017 | $ 1,017 |
Balance Sheets (Unaudited) (Par
Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $ .0001 | $ 0.0001 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 5,857,500 | 5,857,500 |
Common stock, shares outstanding | 5,857,500 | 5,857,500 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Statement [Abstract] | ||
Revenues | $ 0 | $ 0 |
Operating Expenses | 1,800 | 27,474 |
Net Income (Loss) from Operations | (1,800) | (27,474) |
Other Income (Expense) | ||
Interest Expense | 0 | 0 |
Net Income (Loss) from Operations before Income Taxes | (1,800) | (27,474) |
Tax Expense | 0 | 0 |
Net Income (Loss) | $ (1,800) | $ (27,474) |
Basic and Diluted Loss Per Share | $ 0 | $ 0 |
Weighted average number of shares outstanding | 5,857,500 | 5,857,500 |
Statement of Shareholders' Equi
Statement of Shareholders' Equity (Unaudited) - USD ($) | Common Stock | Additional Paid-In Capital | Retained Earnings / Accumulated Deficit | Total |
Beginning balance, shares at Dec. 31, 2017 | 25,957,300 | |||
Beginning balance, value at Dec. 31, 2017 | $ 2,596 | $ 25,483 | $ (106,563) | $ (78,484) |
Reverse stock split | (20,100,300) | |||
Net income for the year ended | (27,474) | (27,474) | ||
Ending balance, shares at Dec. 31, 2018 | 5,857,000 | |||
Ending balance, value at Dec. 31, 2018 | $ 2,596 | 25,483 | (135,837) | (105,958) |
Net income for the year ended | (1,800) | (1,800) | ||
Ending balance, shares at Dec. 31, 2019 | 5,857,000 | |||
Ending balance, value at Dec. 31, 2019 | $ 2,596 | $ 25,483 | $ (135,837) | $ (107,758) |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (1,800) | $ (27,474) |
Increase (decrease) in accrued expenses | 1,800 | 27,474 |
Net cash used in operating activities | 0 | 0 |
Cash flows from investing activities: | ||
Net cash provided (used) by investing activities | 0 | 0 |
Cash flows from financing activities: | ||
Net cash provided (used) by financing activities | 0 | 0 |
Increase in cash and equivalents | 0 | 0 |
Cash and cash equivalents at beginning of period | 1,017 | 1,017 |
Cash and cash equivalents at end of period | $ 1,017 | $ 1,017 |
1. Organization, History and Bu
1. Organization, History and Business | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, History and Business | Note 1. Organization, History and Business Trimax Consulting, Inc. (“the Company”) was incorporated in Nevada on May 19, 2014. The Company was established for the purpose of real estate consulting and the purchasing of Tax Liens. On March 16, 2017, pursuant to a stock purchase agreement between Oeshadebie Waterford. On May 8, 2017, the board of directors adopted an Amendment to its Articles of Incorporation changing the name of the Company to Xinda International Corp., and on June 9, 2017, the Financial Industry Regulatory Authority (“FINRA”) gave final approval for the name change and the ticker Symbol “XNDA”. On May 17, 2018, Dr. Amit Tripathi was elected and Eng Wah Kung resigned as a director and an officer. In connection with the resignation of Mr. Kung, Dr. Tripathi was appointed as our Chief Executive Officer and Director. |
2. Summary of Significant Accou
2. Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Note 2. Summary of Significant Accounting Policies Revenue Recognition Revenue is derived from sales of products to distributors and consumers. Revenue is recognized in accordance with Staff Accounting Bulletin (“SAB”) No. 101, “Revenue Recognition in Financial Statements,” as revised by SAB No. 104. As such, the Company recognizes revenue when persuasive evidence of an arrangement exists, title transfer has occurred, the price is fixed or readily determinable, and collectability is probable. Sales are recorded net of sales discounts and terms are recorded by contract. Accounts Receivable Accounts receivable is reported at the customers’ outstanding balances, less any allowance for doubtful accounts. Interest is not accrued on overdue accounts receivable. Allowance for Doubtful Accounts An allowance for doubtful accounts on accounts receivable is charged to operations in amounts sufficient to maintain the allowance for uncollectible accounts at a level management believes is adequate to cover any probable losses. Management determines the adequacy of the allowance based on historical write-off percentages and information collected from individual customers. Accounts receivable are charged off against the allowance when collectability is determined to be permanently impaired. Stock Based Compensation When applicable, the Company will account for stock-based payments to employees in accordance with ASC 718, “Stock Compensation” (“ASC 718”). Stock-based payments to employees include grants of stock, grants of stock options and issuance of warrants that are recognized in the consolidated statement of operations based on their fair values at the date of grant. The Company accounts for stock-based payments to non-employees in accordance with ASC 505-50, “Equity-Based Payments to Non-Employees.” Stock-based payments to non-employees include grants of stock, grants of stock options and issuances of warrants that are recognized in the consolidated statement of operations based on the value of the vested portion of the award over the requisite service period as measured at its then-current fair value as of each financial reporting date. The Company calculates the fair value of option grants and warrant issuances utilizing the Binomial pricing model. The amount of stock-based compensation recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest. ASC 718 requires forfeitures to be estimated at the time stock options are granted and warrants are issued to employees and non-employees, and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The term “forfeitures” is distinct from “cancellations” or “expirations” and represents only the unvested portion of the surrendered stock option or warrant. The Company estimates forfeiture rates for all unvested awards when calculating the expense for the period. In estimating the forfeiture rate, the Company monitors both stock option and warrant exercises as well as employee termination patterns. The resulting stock- based compensation expense for both employee and non-employee awards is generally recognized on a straight-line basis over the period in which the Company expects to receive the benefit, which is generally the vesting period. Loss per Share The Company reports earnings (loss) per share in accordance with ASC Topic 260-10, "Earnings per Share." Basic earnings (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted average number of common shares available. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Diluted earnings (loss) per share has not been presented since there are no dilutive securities. Cash and Cash Equivalents For purpose of the statements of cash flows, the Company considers cash and cash equivalents to include all stable, highly liquid investments with maturities of three months or less. Concentration of Credit Risk The Company primarily transacts its business with one financial institution. The amount on deposit in that one institution may from time to time exceed the federally-insured limit. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Business segments ASC 280, “Segment Reporting” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. The Company determined it has one operating segment as of December 31, 2019. Investment in Real Property Tax Liens – The investments in real property tax liens are accounted for as investments in troubled debt and are carried at cost. Collection of interest, penalties and expense reimbursements is not certain and is recognized upon being realized. The Company has evaluated the collectability of the tax liens and believes the investments are realizable over time as the first position liens are secured by the related real property and the estimated fair value of the real property is in excess of the carrying value of the tax liens and the estimated cost to foreclose and sell the real property. Therefore no impairment was recognized on the tax liens as of December 31, 2019. Income Taxes The Company accounts for its income taxes under the provisions of ASC Topic 740, “Income Taxes.” The method of accounting for income taxes under ASC 740 is an asset and liability method. The asset and liability method requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between tax bases and financial reporting bases of other assets and liabilities. Emerging growth Company We are an “emerging growth company” as that term is used in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) and, as such, may elect to comply with certain reduced public company reporting requirements for future filings. Recent Accounting Pronouncements On June 10, 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) – Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) in its entirety from current accounting guidance. The Company has elected early adoption of this new standard. The Company has implemented all other new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
3. Income Taxes
3. Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 3. Income Taxes Deferred income tax assets and liabilities are computed annually for differences between financial statement and tax bases of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities. The effective tax rate on the net loss before income taxes differs from the U.S. statutory rate as follows: 12/31/2019 12/31/2018 U.S. statutory rate 34.00% 34.00% Less valuation allowance -34.00% -34.00% Effective tax rate 0.00% 0.00% The significant components of deferred tax assets and liabilities are as follows: 12/31/2019 12/31/2018 Deferred tax assets Net operating losses $ 1,800 $ 27,474 Deferred tax liability Net deferred tax assets 0 9,341 Less valuation allowance (0) (9,341 ) Deferred tax asset - net valuation allowance $ 0 $ 0 The Company has net operating losses and has $1,800 available to offset future income for income tax reporting purposes, which will expire in various years through 2024, if not previously utilized. However, the Company’s ability to use the carryover net operating loss may be substantially limited or eliminated pursuant to Internal Revenue Code Section 382. The Company adopted the provisions of ASC 740-10-50, formerly FIN 48, and “Accounting for Uncertainty in Income Taxes”. The Company had no material unrecognized income tax assets or liabilities as of December 31, 2018. The Company’s policy regarding income tax interest and penalties is to expense those items as general and administrative expense but to identify them for tax purposes. During the years ended December 31, 2019 and 2018, there were no income tax, or related interest and penalty items in the income statement, or liabilities on the balance sheet. The Company files income tax returns in the U.S. federal jurisdiction and Nevada state jurisdiction. We are not currently involved in any income tax examinations. |
4. Related Party Transactions
4. Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 4. Related Party Transactions Oeshadebie Waterford has lent the company a net total of $500 to the company during the years ended December 31, 2016 and 2015. These funds have been used for working capital to date. |
5. Stockholders' Equity
5. Stockholders' Equity | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Stockholders' Equity | Note 5. Stockholders’ Equity Common Stock The holders of the Company's common stock are entitled to one vote per share of common stock held. The Company recorded a 5 for 1 forward split on May 18, 2015. All prior periods have been restated to reflect this transaction. As of December 31, 2017 and 2016 the Company had 25,957,500 shares issued and outstanding. Effective May 24, 2018 the Company intends to complete a 14 to 1 forward stock dividend of its stock. The Company has 5,857,500 shares issued and outstanding. |
6. Commitments and Contingencie
6. Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 6. Commitments and Contingencies Commitments: The Company currently has no long term commitments as of our balance sheet date. Contingencies: None as of our balance sheet date. |
7. Net Income (Loss Per Share)
7. Net Income (Loss Per Share) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Net Income (Loss Per Share) | Note 7. Net Income (Loss Per Share) The following table sets forth the information used to compute basic and diluted net income per share attributable to Carbon Credit International, Inc. for the years ended December 31, 2019 and 2018. 12/31/2019 12/31/2018 Net Income (Loss) $ (1,800 ) $ (27,474 ) Weighted-average common shares outstanding - basic: Weighted-average common stock equivalents 5,857,500 5,857,500 Stock options – – Warrants – – Convertible Notes – – Weighted-average common shares outstanding - Diluted 5,857,500 5,857,500 |
8. Notes Payable
8. Notes Payable | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Notes Payable | Note 8 – Notes Payable Notes payable consist of the following for the periods ended December 31, 2019 and 2018: 12/31/2019 12/31/2018 Related party working capital note with no stated interest rate. Note is payable on demand. $ – $ – Total Notes Payable – – Less Current Portion – – Long Term Notes Payable $ – $ – |
9. Going Concern
9. Going Concern | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | Note 9 - Going Concern The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. Currently, the Company has no operating history and has limited working capital. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management believes that the Company’s capital requirements will depend on many factors including the success of the Company’s development efforts and its efforts to raise capital. Management also believes the Company needs to raise additional capital for working capital purposes. There is no assurance that such financing will be available in the future. The conditions described above raise substantial doubt about our ability to continue as a going concern. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern. |
10. Investments
10. Investments | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Investments [Abstract] | |
Investments | Note 10 - Investments Investment in Available for Sale Debt Securities Debt Securities Cost Basis Unrealized Gains Unrealized Losses Fair Value Corporate Debt Securities $ – $ – $ – $ – Land – – – – Interest accruals – – – – Total $ – $ – $ – $ – |
11. Subsequent Events
11. Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 11 - Subsequent Events There are no subsequent events. |
2. Summary of Significant Acc_2
2. Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Revenue Recognition | Revenue Recognition Revenue is derived from sales of products to distributors and consumers. Revenue is recognized in accordance with Staff Accounting Bulletin (“SAB”) No. 101, “Revenue Recognition in Financial Statements,” as revised by SAB No. 104. As such, the Company recognizes revenue when persuasive evidence of an arrangement exists, title transfer has occurred, the price is fixed or readily determinable, and collectability is probable. Sales are recorded net of sales discounts and terms are recorded by contract. |
Accounts Receivable | Accounts Receivable Accounts receivable is reported at the customers’ outstanding balances, less any allowance for doubtful accounts. Interest is not accrued on overdue accounts receivable. |
Allowance for Doubtful Accounts | Allowance for Doubtful Accounts An allowance for doubtful accounts on accounts receivable is charged to operations in amounts sufficient to maintain the allowance for uncollectible accounts at a level management believes is adequate to cover any probable losses. Management determines the adequacy of the allowance based on historical write-off percentages and information collected from individual customers. Accounts receivable are charged off against the allowance when collectability is determined to be permanently impaired. |
Stock Based Compensation | Stock Based Compensation When applicable, the Company will account for stock-based payments to employees in accordance with ASC 718, “Stock Compensation” (“ASC 718”). Stock-based payments to employees include grants of stock, grants of stock options and issuance of warrants that are recognized in the consolidated statement of operations based on their fair values at the date of grant. The Company accounts for stock-based payments to non-employees in accordance with ASC 505-50, “Equity-Based Payments to Non-Employees.” Stock-based payments to non-employees include grants of stock, grants of stock options and issuances of warrants that are recognized in the consolidated statement of operations based on the value of the vested portion of the award over the requisite service period as measured at its then-current fair value as of each financial reporting date. The Company calculates the fair value of option grants and warrant issuances utilizing the Binomial pricing model. The amount of stock-based compensation recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest. ASC 718 requires forfeitures to be estimated at the time stock options are granted and warrants are issued to employees and non-employees, and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The term “forfeitures” is distinct from “cancellations” or “expirations” and represents only the unvested portion of the surrendered stock option or warrant. The Company estimates forfeiture rates for all unvested awards when calculating the expense for the period. In estimating the forfeiture rate, the Company monitors both stock option and warrant exercises as well as employee termination patterns. The resulting stock- based compensation expense for both employee and non-employee awards is generally recognized on a straight-line basis over the period in which the Company expects to receive the benefit, which is generally the vesting period. |
Loss per Share | Loss per Share The Company reports earnings (loss) per share in accordance with ASC Topic 260-10, "Earnings per Share." Basic earnings (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted average number of common shares available. Diluted earnings (loss) per share is computed similar to basic earnings (loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. Diluted earnings (loss) per share has not been presented since there are no dilutive securities. |
Cash and Cash Equivalents | Cash and Cash Equivalents For purpose of the statements of cash flows, the Company considers cash and cash equivalents to include all stable, highly liquid investments with maturities of three months or less. |
Concentration of Credit Risk | Concentration of Credit Risk The Company primarily transacts its business with one financial institution. The amount on deposit in that one institution may from time to time exceed the federally-insured limit. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Business segments | Business segments ASC 280, “Segment Reporting” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. The Company determined it has one operating segment as of December 31, 2019. Investment in Real Property Tax Liens – The investments in real property tax liens are accounted for as investments in troubled debt and are carried at cost. Collection of interest, penalties and expense reimbursements is not certain and is recognized upon being realized. The Company has evaluated the collectability of the tax liens and believes the investments are realizable over time as the first position liens are secured by the related real property and the estimated fair value of the real property is in excess of the carrying value of the tax liens and the estimated cost to foreclose and sell the real property. Therefore no impairment was recognized on the tax liens as of December 31, 2019. |
Income Taxes | Income Taxes The Company accounts for its income taxes under the provisions of ASC Topic 740, “Income Taxes.” The method of accounting for income taxes under ASC 740 is an asset and liability method. The asset and liability method requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of temporary differences between tax bases and financial reporting bases of other assets and liabilities. |
Emerging growth Company | Emerging growth Company We are an “emerging growth company” as that term is used in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”) and, as such, may elect to comply with certain reduced public company reporting requirements for future filings. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements On June 10, 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-10, Development Stage Entities (Topic 915) – Elimination of Certain Financial Reporting Requirements, Including an Amendment to Variable Interest Entities Guidance in Topic 810, Consolidation, which eliminates the concept of a development stage entity (DSE) in its entirety from current accounting guidance. The Company has elected early adoption of this new standard. The Company has implemented all other new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. |
3. Income Taxes (Tables)
3. Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Effective tax rate schedule | 12/31/2019 12/31/2018 U.S. statutory rate 34.00% 34.00% Less valuation allowance -34.00% -34.00% Effective tax rate 0.00% 0.00% |
Deferred tax assets and liabilities | 12/31/2019 12/31/2018 Deferred tax assets Net operating losses $ 1,800 $ 27,474 Deferred tax liability Net deferred tax assets 0 9,341 Less valuation allowance (0) (9,341 ) Deferred tax asset - net valuation allowance $ 0 $ 0 |
7. Net Income (Loss Per Share)
7. Net Income (Loss Per Share) (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Basic and Diluted Net Income | 12/31/2019 12/31/2018 Net Income (Loss) $ (1,800 ) $ (27,474 ) Weighted-average common shares outstanding - basic: Weighted-average common stock equivalents 5,857,500 5,857,500 Stock options – – Warrants – – Convertible Notes – – Weighted-average common shares outstanding - Diluted 5,857,500 5,857,500 |
8. Notes Payable (Tables)
8. Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Debt Disclosure [Abstract] | |
Notes payable | 12/31/2019 12/31/2018 Related party working capital note with no stated interest rate. Note is payable on demand. $ – $ – Total Notes Payable – – Less Current Portion – – Long Term Notes Payable $ – $ – |
10. Investments (Tables)
10. Investments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Schedule of Investments [Abstract] | |
Schedule of debt securities | Debt Securities Cost Basis Unrealized Gains Unrealized Losses Fair Value Corporate Debt Securities $ – $ – $ – $ – Land – – – – Interest accruals – – – – Total $ – $ – $ – $ – |
3. Income Taxes (Details - Effe
3. Income Taxes (Details - Effective rate) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | ||
US statutory rate | 34.00% | 34.00% |
Less valuation allowance | (34.00%) | (34.00%) |
Effective tax rate | 0.00% | 0.00% |
3. Income Taxes (Details - Defe
3. Income Taxes (Details - Deferred assets) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred tax assets | ||
Net operating losses | $ 1,800 | $ 27,474 |
Deferred tax liability | ||
Less valuation allowance | 0 | (9,341) |
Deferred tax asset - net valuation allowance | $ 0 | $ 0 |
3. Income Taxes (Details Narrat
3. Income Taxes (Details Narrative) | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Income Tax Disclosure [Abstract] | |
Net operating loss carryforward | $ 135,837 |
NOL expiration date | Dec. 31, 2024 |
4. Related Party Transactions (
4. Related Party Transactions (Details Narrative) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Related Party Transactions [Abstract] | ||
Due to related parties | $ 500 | $ 500 |
5. Stockholders' Equity (Detail
5. Stockholders' Equity (Details Narrative) - shares | Dec. 31, 2019 | Dec. 31, 2018 |
Equity [Abstract] | ||
Common stock, shares issued | 5,857,500 | 5,857,500 |
Common stock, shares outstanding | 5,857,500 | 5,857,500 |
7. Net Income (Loss) Per Share
7. Net Income (Loss) Per Share (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings Per Share [Abstract] | ||
Net income (loss) | $ (1,800) | $ (27,474) |
Weighted average common stock outstanding - basic | 5,857,500 | 5,857,500 |
Adjustment for antidilutive shares | 0 | 0 |
Weighted average shares outstanding - diluted | 5,857,500 | 5,857,500 |
8. Notes Payable (Details)
8. Notes Payable (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Debt Disclosure [Abstract] | ||
Related party working capital note | $ 0 | $ 0 |
Total Note Payable | 0 | 0 |
Less Current Portion | 0 | 0 |
Long Term Notes Payable | $ 0 | $ 0 |